Archer-Daniels-Midland Company (NYSE:ADM) Shares Sold by Citigroup Inc.

Citigroup Inc. reduced its stake in shares of Archer-Daniels-Midland Company (NYSE:ADM) by 19.6% during the 3rd quarter, HoldingsChannel reports. The firm owned 468,078 shares of the company’s stock after selling 113,928 shares during the quarter. Citigroup Inc.’s holdings in Archer-Daniels-Midland were worth $27,963,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ADM. Pacer Advisors Inc. boosted its stake in Archer-Daniels-Midland by 15,790.1% during the second quarter. Pacer Advisors Inc. now owns 7,596,892 shares of the company’s stock worth $459,232,000 after buying an additional 7,549,083 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of Archer-Daniels-Midland by 73.6% in the second quarter. AQR Capital Management LLC now owns 2,830,927 shares of the company’s stock valued at $170,960,000 after purchasing an additional 1,199,992 shares during the period. AustralianSuper Pty Ltd increased its position in Archer-Daniels-Midland by 689.7% during the second quarter. AustralianSuper Pty Ltd now owns 1,008,242 shares of the company’s stock worth $60,948,000 after purchasing an additional 880,564 shares during the last quarter. Swedbank AB purchased a new position in Archer-Daniels-Midland during the first quarter worth about $23,106,000. Finally, Mather Group LLC. boosted its holdings in Archer-Daniels-Midland by 6,642.1% in the 2nd quarter. Mather Group LLC. now owns 216,961 shares of the company’s stock valued at $13,627,000 after purchasing an additional 213,743 shares during the last quarter. Institutional investors and hedge funds own 78.28% of the company’s stock.

Insider Activity

In related news, CEO Juan R. Luciano sold 3,683 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $61.00, for a total transaction of $224,663.00. Following the sale, the chief executive officer now directly owns 265,210 shares in the company, valued at approximately $16,177,810. This represents a 1.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last three months, insiders have sold 219,348 shares of company stock worth $13,296,833. Corporate insiders own 1.20% of the company’s stock.

Archer-Daniels-Midland Trading Down 0.2 %

NYSE ADM opened at $53.01 on Tuesday. Archer-Daniels-Midland Company has a one year low of $48.92 and a one year high of $77.35. The firm has a 50 day simple moving average of $56.45 and a 200-day simple moving average of $59.45. The firm has a market cap of $25.37 billion, a price-to-earnings ratio of 15.15 and a beta of 0.73. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.84 and a current ratio of 1.40.

Archer-Daniels-Midland Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.77%. The ex-dividend date of this dividend is Thursday, November 21st. Archer-Daniels-Midland’s dividend payout ratio is currently 57.14%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. UBS Group lifted their price target on shares of Archer-Daniels-Midland from $60.00 to $64.00 and gave the company a “neutral” rating in a research report on Monday, September 9th. JPMorgan Chase & Co. upped their price target on Archer-Daniels-Midland from $65.00 to $66.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Finally, Morgan Stanley cut their price objective on Archer-Daniels-Midland from $57.00 to $52.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 12th. One analyst has rated the stock with a sell rating and fourteen have assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $62.83.

Archer-Daniels-Midland Profile

Archer-Daniels-Midland Company engages in the procurement, transportation, storage, processing, and merchandising of agricultural commodities, ingredients, flavors, and solutions in the United States, Switzerland, the Cayman Islands, Brazil, Mexico, Canada, the United Kingdom, and internationally. It operates in three segments: Ag Services and Oilseeds, Carbohydrate Solutions, and Nutrition.